Industrial VR & AR Demystified

This is not an article on what VR and AR Experiences are….!! Instead I’m trying to demystify the road which may lead businesses towards the successful implementation of Extended Reality (XR) technologies such as VR & AR during their Industry 4.0; Digital-Transformation journeys. According to Digi-Capital, investors see AR/VR as the fourth wave of technology, after computers, the internet and then mobile. Going with this technological wave has definitive advantages with enormous benefits. I strongly believe, in-depth understanding of the facts and insights of the XR technologies for Top-Managements is really crucial to make Effective-Choices by tapping their full advantages. It’s been 6 years now since the current XR evaluation triggered during 2013 by Oculus. “Wows…” and “OMGs…”admiring the Immersive-Teleportation should be over by now. We have already crossed the phase of Ornamental-Implementation of VR/AR technologies just for Show-Off purposes. To avoid Future-Regrets, Enterprises need to act now in designing XR-Strategies and laying the solid roadmap which can create new business models with Increased Productivity, Profitability and Safety. Note-Worthy Reports Reports state that the Industry 4.0 is poised to touch $215 billion by 2025 and most of the major economies in the world are adopting it. According to an analysis by McKinsey – the most prestigious American worldwide management consulting firm, “If Indian companies adopt Industry 4.0 across functions such as manufacturing, supply chain, logistics and procurement, they can enhance their operating profits by 40% at less than 10% of the planned capital expenditure.” Also, a recent Gartner survey showed that out of the organizations that are currently using or piloting AR, 40% found the technology to exceed expectations....